Tag Archives: estate

Homebuyers are Financial Creditors under Insolvency Code: SC

The Supreme Court of India recently upheld the amendments made to the Insolvency and Bankruptcy Code in 2018 (“Code”) to treat homebuyers as financial creditors. The Court said that the original provisions concerning Financial Creditors under the Code always subsumed … Continue reading

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Promoter/Buyer can terminate real estate agreement; Agreement for Sales Rules notified: Govt.

Union Government has notified the Real Estate (Regulation & Development) Agreement for Sale Rules, 2016 applicable to the Union Territories of Andaman & Nicobar Islands, Dadra and Nagar Haveli, Daman & Diu, Lakshadweep and Chandigarh. Agreement for Sale Rules notified by … Continue reading

Posted in Consumer Law, Contract Law, General Law, International Law, Notifications/Publications/Circulars, Real Estate | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Cabinet approves amendments to Real Estate (Regulation and Development) Bill, 2013

The Union Cabinet approved amendments to the Real Estate (Regulation and Development) Bill, 2013 pending in the Rajya Sabha, and approved amendments proposed in the Bill. The Bill provides for a uniform regulatory environment, to protect consumer interests, help speedy … Continue reading

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Salient features of Real Estate (Regulation and Development) Bill, 2013

The Real Estate (Regulation and Development) Bill, 2013, introduced in the Parliament provides for a speedy and specialized adjudication mechanism to settle disputes between the promoter, buyer and real estate agents, thereby de-clogging the civil courts and consumer forums, from … Continue reading

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Benefits and Advantages of proposed Real Estate Bill, 2013

Benefits and Advantages of proposed Real Estate Bill, 2013 ·          The Bill will bring about standardization in the sector leading to healthy and orderly growth of the industry through introduction of definitions such as ‘apartment’, ‘common areas’, ‘carpet area’, ‘advertisement’, … Continue reading

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Guidelines suggested to address/State govts. in regard to unauthorized occupants: SC

The Supreme Court of India suggested the below guidelines to address the grievances of the Centre and the State governments in regard to the unauthorized occupants: – (i) As a precautionary measure, a notice should be sent to the allottee/officer/employee … Continue reading

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Real Estate Watchdog on cards in India

Indian Govt is trying to establish a Real Estate Watchdog in the form of Real Estate Regulatory Authority. In order to ensure that the real estate promoters undertaking housing projects utilize the funds collected for a particular project, for the … Continue reading

Posted in Notifications/Publications/Circulars, Real Estate | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment